Former President Mohamed Nasheed has stated that the Maldives is now firmly entangled in a "debt trap."

In a post on social media platform X today, Nasheed emphasized that the issue of national debt is not something the current administration can resolve in isolation.

"This has now become a national issue. When debt is taken at high interest rates that are impossible for Maldivians to repay, and that money is used solely to service existing debt, it is clear that the Maldives is firmly bound within a debt trap," Nasheed said.

The Maldives is required to repay 500 million dollars this year for Sukuk sold to the international financial market in 2018 and 2019. The government is currently working to secure concessions and restructuring options for the repayment of its foreign debts.